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Growth in demand to remain stable (to level off) for Flow Control The outlook represents expected sequential market development with a rolling six-month view.

Interim President and CEO Eeva Sipilä:

I am very pleased with our strong order growth of 8% during the third quarter. Despite global political and economic uncertainty, we have been successful in offering our customers solutions that deliver sustainable productivity improvements. We continue our intense efforts on R&D and digitalization to further develop our offering globally. In addition, work on growth investments and adjacent acquisitions supporting our profitable growth strategy has continued as planned, demonstrated by our announcement in September to invest in additional foundry capacity in India.

Our 18% sales growth reflects progress in ramping-up our supply chain. We continue to drive multiple actions to further improve our delivery capabilities and flexibility. Our sales mix in Minerals is changing, as indicated earlier, with higher growth in equipment than services. While this affects our margin development to some extent, the expansion of our installed base is important for our future. Nevertheless, we reached an adjusted EBITA margin of 12.2% in the quarter.

Metso’s year-to-date financial results demonstrate, that we have been able to make a step change in our performance this year. The energy and commitment of the Metso people all over the world has been instrumental in this, and we will continue to build on these strengths under the leadership of our new President and CEO Pekka Vauramo, who is taking charge on November 1.